Naira redesign: Fake money transfers rock Onitsha Main Market – Chairman

By Phil Okose, Onitsha

While most Nigerians are yet to exchange their old naira notes for the newly redesigned ones, no fewer than eight cases of fake money transfers have been performed at Onitsha Main Market, Anambra State daily, as fake money transfers reportedly rock the market.

The caretaker committee chairman of the market, Innocent Ezeoha, made this disclosure while fielding questions from newsmen Wednesday, on how the naira redesign is affecting traders in the market.

He lamented that the Central Bank of Nigeria (CBN) introduced a cashless policy for a better economy but eventually failed Nigerians by putting them in hardship to the extent that it is not easy for the people to have access to the new notes.

“Some don’t even see the transfers being made to them. Few of such victims are reporting their cases here in the secretariat, that is, those who summoned the courage to come here,” he said. 

“Some go to the police and others go to the vigilante groups to lodge their complaints and know if they will recover their money.” 

Ezeoha said that about three to four cases are reported officially in a day. However, due to the fact that scores don’t report theirs, there are about eight cases of fake money transfers daily but four are officially recorded in the secretariat. 

“People are finding it difficult to survive these days and something very urgent should be done to curtail the sufferings of Nigerians,” he said.

Ezeoha recalled that the CBN team stormed the market earlier and while flagging off the newly redesigned naira notes in the market, assured the traders that on January 31, the old naira notes will seize to exist.

He said the CBN announcement caused traders to hurriedly rush to the banks and deposit all their old naira notes.

“Now even the Point of Sales (POS) cannot give the new naira notes, thereby paralysing businesses. For now, nothing is moving, everybody is cashless and the petty traders don’t have account numbers.”

Ezeoha also lamented that some traders do not open their shops as nobody patronizes them and that money transfers have become problematic.

“I am pleading with CBN to release the new naira notes to us traders, for use. Queues are everywhere, [both in] POS and Bank ATMs. If this hardship continues, there will be more problems,” the market chairman warned.